Buying Bank Owned Properties Tips And Warnings

[malissa456]

thanks dennis

[DMRealtyLA]

It depends. Most banks will not do repairs as they are selling properties below market and taking a loss. Get help from a professional. These are large purchases and can help you determine whether or not you are getting a deal.

[shakaama]

are you saying that if i am looking at an reo that it is my financial responsibility to clean up the property? i thought banks hire property managers to do that.

[ehkole]

True, the background music distracts you. Kill the music.

[elantra11]

Great video, but music makes difficult to listen...:(

[DMRealtyLA]

Clouded Title means they don't have clear title and the title company won't insure it. It is the title companies job to clean up title. Try contacting your title representative to see what they know. Their number should be on the Prelim you were sent at the beginning of escrow. And, why didn't you use a buyers agent?

[CleatoArroyo]

I have an accpeted offer on a property for cash but the bank has not closed due to, they say, a Clouded title, which the listing agent keeps telling me they are working on. They set a close date of Aug 14 08....its now Nov 14 08...I can't get any information about what is happening with this deal...advise...